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Minimum price system |
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Minimum price systemSpecification of the lowest price permitted for an import. Prices below the minimum may trigger a tariff, hence a variable levy, or quota. See maximum price systerm. These have several names: basic import price, minimum import price, reference price, and trigger price.Similar MatchesAlternative minimum taxAlternative minimum taxA tax which targets high wealth individuals to pay a minimum amount of tax. The tax is calculated on the sum of adjusted gross income and tax preference items less exemptions. Guaranteed minimum periodGuaranteed minimum periodThe period during which an annuity is paid irrespective of whether the annuitant dies during that period.If the annuitant lives beyond this period, payments continue until death. An annuity with such a guarantee could benefit people, with dependants who require the income to continue after their death. This means that the sum of money paid for the annuity would not be wasted in the event of early death. Minimum import priceMinimum import priceSee minimum price system. Minimum income guaranteeMinimum income guaranteeThe Minimum Income Guarantee tops up pensioners' incomes from the basic state pension. In the year 2003, the top up is to £102.10 a week for a single person to £155.80 for a couple.The MIG rises with wages inflation which tends to move faster than price inflation (on which the basic state pension is based) so in time the gap between the state pension and the MIG should grow.Anyone with assets over £12,000 is disqualified from the MIG. Minimum lending rateMinimum lending rateThe minimum rate of interest at which the Bank of England was willing to lend to the money markets. Discontinued in 1981. Further SuggestionsRequired minimum distribution (RMD)minimum price fluctuation minimum quote size minimum funding requirement Minimum efficient scale Minimum variance frontier minimum maintenance Minimum maintenance Minimum variance portfolio guaranteed minimum pension Alternative Minimum Tax (AMT) |
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